里昂降华晨(1114.HK)评级至“跑输大市”目标价维持9.84港元
里昂报告指华晨(01114.HK)将于本周四(25日)举行董事会会议,就派付特别股息作决定。若获得批准,投资者将会在2019至2022年度获每股2.4至5元派息,意味年度平均股息收益率为6%至13%。该行认为,若公司获批的派息比率为30%或以下,投资者将视之为非常负面消息,若达70%或以上则会视为很大的正面因素。

该行相信,公司的派发特别股息的计划将会对其2019至2020年的盈利带来有限影响,虽然在有关派发股息的消息公布後,公司的股价已累涨10%,但该行仍未就其预测及估值作任何调整,目标价仍维持在9.84元,投资评级由原来的“跑赢大市”调低至“跑输大市”。
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